GUELPH, ONTARIO--(Marketwire - March 10, 2011) - HAMMOND MANUFACTURING COMPANY LIMITED (TSX:HMM.A) announces financial results for the year and fourth quarter ended December 31, 2010:
| Twelve months ending: | Three months ending: | ||||||||||||
| 12/31/10 | 12/31/09 | 12/31/10 | 12/31/09 | ||||||||||
| Net Sales | $ | 78,587,000 | $ | 69,406,000 | $ | 19,270,000 | $ | 16,190,000 | |||||
| Earnings from operations(*) | 4,003,000 | 1,525,000 | 892,000 | $ | 156,000 | ||||||||
| Net Earnings | 2,032,000 | (44,000 | ) | 454,000 | $ | 69,000 | |||||||
| Earnings per share | $ | 0.18 | $ | (0.00 | ) | $ | 0.04 | $ | 0.01 | ||||
| Shares outstanding | 11,334,300 | 11,334,300 | |||||||||||
| Net Book value per share | $ | 2.51 | $ | 2.36 | |||||||||
| (*) Earnings from operations is before interest, foreign exchange, equity interest, other income and taxes | |||||||||||||
To all employees and shareholders:
Our year ended strongly with a return to pre-recession market levels. These results reflect the successful efforts of everyone at Hammond.
Hammond Manufacturing Company Limited manufactures a broad range of products for the electronic and electrical products industry, including metallic and non-metallic enclosures, racks, small cases, outlet strips, surge suppressors and electronic transformers.
Contact Information: Hammond Manufacturing Company Limited
Robert F. Hammond
Chairman and CEO
(519) 822-2960
(519) 822-7289 (FAX)
ir@hammfg.com